Borrowing money from the bank by signing a note payable would:
A) decrease liabilities
B) increase shareholders' equity
C) increase net income
D) have no effect on shareholders' equity
Correct Answer:
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Q41: A chart of accounts is:
A) a list
Q42: All of the following accounts would be
Q43: Dividends paid to the shareholders when declared
Q44: Paying a utility bill when received would:
A)
Q45: The accounting transaction to record the payment
Q47: A trial balance that is "in balance"
Q48: The normal balance of the Dividends account
Q49: The accounting transaction to record payment of
Q50: When a company performs a service and
Q51: Receiving a cheque from a customer on
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